In a decisive move to support Maldivian students abroad, President Dr. Mohamed Muizzu has pledged to tackle the persistent challenges they face in accessing US dollars at the official bank rate. Speaking during the third episode of the Rayyithunnaa Eku podcast, hosted by the President’s Office, he emphasized his administration’s dedication to easing these financial burdens.
President Muizzu highlighted that during his international visits, he consistently engages with Maldivian students overseas. A recurring issue raised is the difficulty in obtaining US dollars at favorable rates under the government’s student loan scheme. In response, he has directed the Minister of Finance to devise a practical solution, collaborating closely with the Governor of the Maldives Monetary Authority (MMA).
The President assured that students enrolled in government-funded programs will soon have streamlined access to US dollars at the bank rate. However, he stressed that any new measures will be carefully crafted to prevent negative repercussions on the local market. Additionally, he underscored that the disbursed funds must be utilized in the respective countries of study.
This initiative aligns with the government’s broader commitment to bolstering higher education opportunities abroad through comprehensive loan schemes and scholarship programs. Presently, over 1,600 Maldivian students are pursuing studies overseas under these government initiatives.
Reaffirming his commitment to responsive governance, President Muizzu stated that prioritizing the concerns of the populace, maintaining close connections with citizens, and making consultative decisions remain at the forefront of his administration’s agenda.
In a decisive move to support Maldivian students abroad, President Dr. Mohamed Muizzu has pledged to tackle the persistent challenges they face in accessing US dollars at the official bank rate. Speaking during the third episode of the Rayyithunnaa Eku podcast, hosted by the President’s Office, he emphasized his administration’s dedication to easing these financial burdens.
President Muizzu highlighted that during his international visits, he consistently engages with Maldivian students overseas. A recurring issue raised is the difficulty in obtaining US dollars at favorable rates under the government’s student loan scheme. In response, he has directed the Minister of Finance to devise a practical solution, collaborating closely with the Governor of the Maldives Monetary Authority (MMA).
The President assured that students enrolled in government-funded programs will soon have streamlined access to US dollars at the bank rate. However, he stressed that any new measures will be carefully crafted to prevent negative repercussions on the local market. Additionally, he underscored that the disbursed funds must be utilized in the respective countries of study.
This initiative aligns with the government’s broader commitment to bolstering higher education opportunities abroad through comprehensive loan schemes and scholarship programs. Presently, over 1,600 Maldivian students are pursuing studies overseas under these government initiatives.
Reaffirming his commitment to responsive governance, President Muizzu stated that prioritizing the concerns of the populace, maintaining close connections with citizens, and making consultative decisions remain at the forefront of his administration’s agenda.
